Great Wall development skyrocketing behind the scenes: 10 billion LED project news leaked funds hurricane to 40

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Great Wall Development (000021, stocks) skyrocketing: 10 billion LED project news leaked, funds hurricane to 40

According to close people, the rumors of LED development in the Great Wall are not easy to say. They can only be said to be more complicated, "not good investment".

It is also a big story that is confusing.

Since May 18, Great Wall Development (000021) has climbed from the opening price of 12.51 yuan to all the way to June 4, closing at 16.4 yuan, up 31.1% in half a month. In one month's inspection, the Shanghai Composite Index fell 4%, but the Great Wall Development rose 20% against the market. This makes it one of the strongest stocks in the past month.

All stem from a heavy news that has been widely spread by institutions: Great Wall has invested heavily in LED epitaxial wafers and chips.

However, the simple investigation of the financial weekly found that this simple logic may hide more complicated games. For ordinary investors, this may be an opportunity for bloodshed.

a rumor that surfaced

"Recently, everyone is watching the development of the Great Wall. I suggest that you also look at it." At the beginning of this month, when reporters communicated with an institutional investor in Shanghai, he suggested.

On the same day, Great Wall Development rose 6.98% to close at 16.4 yuan. The Financial Weekly found that, unconsciously, since May 17, the Great Wall development has soared by more than 20%, which is already rare in the current weak market. But two days before and two days later, the game between the long and short sides is very obvious. On June 7, the Great Wall development suddenly plunged 8% against the broader market.

What caused the change in the development of the Great Wall. "Because Great Wall Development is involved in LED epitaxial wafers and LED chips," said the source. Another senior person in the organization was asked, "The private equity circle knows this. It is said that it is announced within one month. Some people say that they will start with 20 pieces."

The financial weekly report then found through the network search that the network has indeed contained the following rumors in many places.

It is said that Great Wall Development has established a joint venture LED company with Taiwanese companies and Mitsui. China Electronics Group took the lead, Great Wall Development and Taiwan wafer, TPV and Mitsui Japan to establish a joint venture company for the production of LED epitaxial wafers and LED chips, the main customer is TPV, supporting the backlight of TPV. China will hold shares. Great Wall development accounted for 45%, Taiwan wafers 20%-30%, and the rest were held by TPV and Mitsui. It is estimated that the investment will be carried out in two phases. It is said that the first phase of the Great Wall Development will contribute 1 billion to 2 billion yuan.

But this is not the only version of the rumor, although the content is generally similar.

“Actually, we knew this news three months ago.” A Shanghai private equity fund approaching the Great Wall Development told the Financial Weekly.

After a large number of search comparisons, the financial weekly report found that the recent rumors came from a rumor published on the stock website of the stock on May 25: "Great Wall Development 000021 and Taiwan Wafer Optoelectronics joint venture established a company, the Chinese holding chip, With a total investment of more than 10 billion yuan, it is possible to sign an agreement within one month. At present, the company's leadership has already gone to Taiwan for a field visit. If the agreement is signed, the stock price will be discussed on the 40th."

The author's IP address is 61.145.146.*, and he also said that he wrote something similar on another website. Since then the news has been reprinted by many websites.

In fact, the earliest rumors appeared on March 16th. The rumor said: "The Great Wall Development Company is currently the actual controller of the company. China Electronics Group is negotiating with Taiwan wafer companies to set up a LED joint venture company with a total investment of 10 billion yuan. This business will be handed over to the Great Wall for development, and Great Wall Development will invest 2.5 billion yuan." However, the rumor did not cause widespread spread.

Rumors behind the scenes

The Financial Weekly has verified more brokerage researchers. The attitude of most of them is not denying no confirmation. A securities company researcher told reporters: "The rise of Great Wall Development during this period is not mainly due to the quarterly results, but because of Another thing."

The above-mentioned people close to the development of the Great Wall revealed that "the content of the rumors is basically the same. In fact, there is no timetable for this matter, and it is not determined whether it is done by a listed company."

On April 22, Mitsui & Co., Ltd. has subscribed for 235 million shares of TPV Technology (00903.HK) through Morgan Stanley Asia Limited for HK$1.22 billion, accounting for 15.05% of the issued shares of TPV Technology. The two major shareholders, the shareholding ratio is second only to China's Great Wall Hong Kong company's 15.79%. And Great Wall Computer (000066, shares it), which belongs to China Electronic Information Group, has a 27% stake in TPV Technology.

It seems that everything is not a passive water.

So who is the original intention to release this rumor of high accuracy and detail? The person said, "The specifics are not good enough to say that it is more complicated. This stock is not good for investment."

Other informed sources said that some analysts actually obtained the news from the company in the early stage, and CITIC Securities (600030, shares) in the recommendation report in April, euphemistically mentioned the LED imagination. Some fund companies have also received news from some brokerage analysts. The recent large-scale intervention of funds is quite obvious.

The reporter rumored to connect the staff of the Great Wall Development Securities Department. The staff member said that the matter has not been formally confirmed and cannot be answered. If implemented, it will be announced in time. When it was specifically implemented, the staff member said that because the information was sensitive, he could not answer.

Not as beautiful as you think

Even so, the project is not optimistic for everyone.

"The LED companies listed now have basically a high valuation. Although the industry has great potential, the current pattern is also very chaotic. At present, it is still at the beginning stage, not worth so high, and now it is high. The development of the industry has been overdrawn." The above-mentioned brokerage industry researcher told reporters.

At present, the investment boom of LED has already started in China. In 2009, only in the application of semiconductor lighting, the output value will be as high as 60 billion yuan, with an overall increase of more than 30%. The speed of the domestic LED project, in the words of industry researchers, is "spreading everywhere, fierce competition, without technical accumulation as a dependency, it will certainly cause a lot of backward production capacity."

In the upstream epitaxial wafer and midstream chip, the domestic industry is currently the first in the industry is Sanan Optoelectronics (600703, stock bar). Now Sanan Optoelectronics has 22 world-class MOCVD and matching chip manufacturing lines and testing equipment, with an annual production capacity of 850,000 pieces of epitaxial wafers. In 2010, Sanan Optoelectronics plans to purchase 200 MOCVD equipment with a total investment of 12 billion yuan.

It is foreseeable that domestic LED production capacity will encounter blowouts. Only the investment of Sanan Optoelectronics will increase the production capacity of domestic and foreign wafers and chips.

"According to our observations, pessimistic forecasts, overcapacity occurred in the fourth quarter of this year," said an investor from a Southwest brokerage.

Other brokers are also worried about the joint venture model. "Now the technology is advancing very fast. It is impossible for all the latest and most complete technologies to be given to you. It doesn't mean anything in the end. The most important thing is whether you have any technical strength. China and the foreign-funded companies with technology have failed to cooperate too much."

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